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decline. then prices will start heading up as we enter into the new year. melissa: do you watch the opec meeting at all? there is a lot more tension going on at this meeting than we've seen for a long time. iran and saudi arabia struggling for control of the cartel right now. you had venezuela come out at last meeting to declare they have the most oil on the map. more infighting than usual. does this concern you? are you focused on it at all? >> you know opec is becoming more exciting. melissa: it is. >> power grab for what little power opec really has nowadays. we're coming off stories u.s. domestic production is through the roof. our friends in canada still sending us oil. opec is trying to stay relevant. right now they're struggling with that. who wants to produce as much oil? the saudies are always on top. venezuela is always very vocal. at the end of the day opec is becoming quieter and less relevant. melissa: it is but still 40% of the world's oil. patrick, thanks for coming on. you're always fantastic. >> thanks. melissa: time to check the fuel gauge. natural gas line exploded in
talked to a lot of people, they say yes. melissa: charlie, thank you. a battle for control as opec meets. who will be the new leader of the oil cartel? saudi arabia or arch rival iran fighting for the top spot. [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordable legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. nd now you're protecd. lori: markets holding up. nice rally. as we do every 15 minutes let's head back to the floor of the new york stock exchange to check in with nicole. jpmorgan the new favorite bank for customers. >> this is very interesting
with all the tension going on at the opec meeting in vienna now. you know, wti higher by 41 cents. 86.20 per barrel. london, 108.53. a gain of.5%. the treasuries and ten-year yield now is -- very close to 1.7%. decline of 1/8 point. the dollar is mixed across the board. 82.84 for every dollar. the pound would cost you $1.61. the price of gold this hour is higher by $5.20. a gain of .3%, 1,714 per ounce. time for the global markets report. kelly evans is standing by in london. >> michelle, hello. >> you might be here 12-12-2110. >> i think the date is 1221? today is 12-12. 12-21 it when the world ends. i think we've only got nine days left of the global market report. >> i'm worried about the fiscal cliff -- once we get the world -- which is worse? the world ending or the fiscal cliff? >> about the same i think. >> one could bring about the other. >> i think it's no accident they're both approaching. that's how i'm going to read the tea leaves. as you see, a mixed picture this morning. people mostly waiting on the fed decision later today. the major boards green, the ftse adding .25%.
that opec does, every time we see unrest in the middle east, we see a spike in oil, does that mean more we're rousing here in the u.s. we won't be impacting by that as much? >> yeah. i mean the more domestic supply we have, the less we depend on opec ps of the world, no question. the problem we have as the world though, 92 million barrels a day roughly what the production is. that is about a million barrels a day of excess capacity. so any little flare-up in the middle east will impact world oil prices. ashley: so do you think we'll be energy independent anytime soon? we're almost there. >> yeah. i think by "20/20" -- 2020 we have legitimate chance between all the natural gas we're bringing on and oil we're bringing on, on energy equivalent basis we'll be independent. we'll be importing oil and exporting gas as lng, very good, interesting stuff. john shiller, chairman of energy defend one. john, thank you so much. we appreciate it. >> thank you for having us. tracy: you make a great point, saudi arabia will not be very happy about our quest for independence. ashley: that is real threat to
of the earth. oil that we never dreamed we could access. we need to break the back of on opec. we need to provide for energy security. many nations we buy oil from are antithetical to the american way of democracy and religious freedom. we are fighting our enemies and it could end in the foreseeable future. but there is a second component that should have you steamed. it had me steamed almost as much as my outrage at the fiscal cliff discussion in washington. i had to use the term fiscal cliff. i hadn't used it yet in this piece. i'm talking about the squandered opportunity in natural gas. papa was quite bullish in the price of oil. it's set worldwide. chinese keep it up. we have an umbrella that makes it worth our while to extract hard to get oil. as plentiful as oil is, there is a gigantic glut of natural gas, the opposite of oil, all papas talked about. more nat gas than we know what to do with. we have no place to put it and not enough places to use it. natural gas isn't fungible. it costs fortunes to transport overseas and is barely economical when exported. the best use is in thi
lucrative yet little notice commodities market that canadians dominated by opec domination of the world oil markets. monopolizing the maple syrup market producing as much as 70 percent of the high-value commodity. since 1999, the province use the marketing system that set strict quotas for producers and requires them to sell to a federation in the spring of 2011 a critical change said that peace plan in motion. a good harvest meant maple syrup production shares spiked. so much protection the federation was forced to add a warehouse, its third, to accommodate overflow. into the seven criminals. hoping to score the perfect heist, their goal, to steal as much as their sticky hands can handle from the strategic maple reserved. that is what it's really called. first, the ridge to the portion of the new warehouse which allowed them to drive large trucks into the building. then they began emptying the barrels of maple syrup, refilling them with water. they refilled that serve on the open market setting themselves up as legitimate maple syrup dealers and because kershaw restores don't use a bar cod
intellectual, too. >> opec and the fed, hey, u.s. production up. let's go to sharon epperson at the nymex. >> oil has really been on the move since the open a few minutes ago. not so much opec, which still packed with the current quota around 30 million barrels per day, it is producing more than that. but we are hearing, of course, from opec itself that saudi arabia has reduced its production in november to the lowest level in a year. so that seems to be a way that they will adhere closer to the current quota. we're also looking at the latest report from the international energy agency which may have more of an impact where oil prices are going in this session. they're looking for slightly demand in 2013. and they're pointing to china for the reason. we're anticipating we'll get the report from the energy department at 10:30 a.m. on oil supplies. the expectation is for a slight decline in food supplies. but we did see a major build in the industry report, if that is confirmed we could see these gains short-lived. back to you. >> all right. thank you very much, sharon epperson. we've got a
stimulus, inflation fears, oil up more not so much on fed but news out of opec that they are going to leave their production ceiling in place even though they are out producing what the ceiling is now. that has been a little bit bullish for prices in oil but nothing much coming out of the fed any time soon. they need a pizza or something. cheryl: you never know. we could get a couple surprises when it comes to the language. you never know how they will react. >> as a predictor, as a predictor they are not predicting anything. absolutely right. we will be here to go crazy when it does. cheryl: i want to bring in scott marden, united advisers chief market strategist and take this to the equities perspective, talking a lot of action at the cme today. when it comes equities you have the dow up five days, traders waiting to see what the fed will do. it is all about extending the bond buying program. if we get a number below -p$45 billion which seems to be the threshold expectation, what do you think the stock market might do? >> probably sell off. if you are an equity market lover you have to li
. >>> an oh beck minister, important events. opec ministers are in vienna. >> why vienna, by the way? >> i don't know why they originally set it there, but it seems like as good a place as any. have you been? >> i have not been. >> i don't think i've ever been to vienna. i always wondered about that. >> i mean, it's better than meeting in, i don't know, skokie, right? they're expected to retain its 28 million barrel a day output target. but the real drama is likely to be about leadership, the world's leading oil exporters are expected to argue about who should be opec's next secretary general and we have candidates from iran, iraq and saudi ara a arabia. they're all competing to replace the current leader, as you can see there. abdallah salem el badri, he's 72 years old and he's been there for years. i don't know where i've been for five years, but did you know -- >> i apologize in advance. i didn't. >> you could have said you did and we've been best friends, in fact. >> he's completely changed the entire operation. anyway, did a great job. >> in global market news this morning, stocks in asi
with the opec meeting. in addition to the fed that comes out tomorrow. the expectation is, that opec will leave their current quota unchanged, around 30 million barrels per day. the actual production, around 31 million barrels a day. there may not be any change to that. the key will be what happens in terms of the election of a new secretary-general and saudi arabia in the running for that as well. back to you. >> thanks very much, sharon epperson. i did want to look at shares of largest for-profit hospital in the country. a secondary offering this morning. hga finds itself in the of so many movements of the capital structure, reflective of the 250i78s. don't forget, they borrow at incredibly low rates not long ago, $1 billion, to pay a special dividend. you want to pay a special dividend prior to any tax increase on dividends as well. capital gains figuring into that debate, let's call it at this point that we've been detailing down in d.c. with our "mission critical" coverage. this morning, two of the owners of hca, it was a huge leverage back in '05, and '06, almost four times their money at
with the opec meeting next week as well. back to you. >> thank you very much sharon epperson. >> we did want to note for the viewers, a fairly large hedge fund that was in the news for not good reasons. diamondback capital management, a fund run by richard shimmal and larry kipanzi. richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they did have 140 or so people working for them. not sure how much they have trended that. as of now, their seven-year track record at this point. but they have spending redemptions as you might expect. rushing all of the assets to fund holders. often times in these cases, you'll see people run out and look at 13, and say oh, wha
Search Results 0 to 10 of about 11